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Directors Report of United Interactive Ltd.

Mar 31, 2015

Dear Members,

The Directors have pleasure to present 32nd Annual Report and Audited Annual Accounts of your company for the year ended on 31st March 2015.

FINANCIAL HIGHLIGHTS:

STANDALONE BASIS

(Rs. IN LAKHS)

Particulars FY 2014-15 FY 2013-14

Total Income 15.63 9.77

Total Expenditure 9.26 8.45

Profit Before Tax (PBT) 6.37 1.32

Tax Nil Nil

Profit After Tax (PAT) 6.37 1.32

PERFORMANCE REVIEW & FUTURE OUTLOOK:

During the current year, your Company has booked total income of Rs. 15.63 Lakhs and PAT of Rs. 6.37 Lakhs on standalone basis. The source of income is on account of dividend received from subsidiary company - Netesoft India Limited.

Your Company has its strategic & Material subsidiary as Netesoft India Limited. The performance of Netesoft for the financial year 2014-2015 is as follows:

The total income of the Netesoft for the year ended March 31, 2015 stood at Rs. 3105.06 Lakhs and it has made a profit after tax of Rs. 597.61 Lakhs during year ended March 31, 2015 as compared to a profit after tax of Rs. 192.77 Lakhs during the previous year.

Your company will look forward to continue its stake in & enrichment of its subsidiary, so as to make appreciation in company's investment. Your Directors are expecting further growth in near future on consolidated basis and are confident that the policies, strategies adopted by your company will yield better returns.

DIVIDEND & RESERVES:

In view of the inadequate profits, your Directors do not recommend payment of Dividend for the current financial year. The entire profit after tax will be adjusted against loss carried forward to the balance sheet from previous years.

SHARE CAPITAL:

As at March 31, 2015, United Interactive Limited, the total paid up share capital stood at Rs.1,83.10,000/- divided into 18,31,000 fully paid up equity shares of Rs. 10/- each. During the year under review, the Company has not issued any shares. The Company has not issued shares with differential voting rights. It has neither issued employee stock options nor sweat equity shares and does not have any scheme to fund its employees to purchase the shares of the Company.

As on 31st March, 2015, Mrs. Sarayu Somaiya, Director of the Company holds 69.83% shares of the Company.

MATERIAL CHANGES AND COMMITMENTS BETWEEN THE DATE OF THE BALANCE SHEET AND THE DATE OF REPORT

There have been no material changes and commitments affecting the financial position of the Company which have occurred between the end of the Financial Year of the Company to which the Financial Statements relate and the date of the report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

A. Conservation of Energy and Technology Absorption:

The Company has no particulars to report regarding conservation of energy, technology absorption as required under Section 134(3)(m) of the Companies Act, 2013 read with Rules there under.

B. Foreign exchange earnings and outgo:

Sr. No. Particulars Amt in Rs.

1 Foreign Exchange earned in terms of actual inflows during Nil the year

2 Foreign Exchange outgo in terms of actual outflows during Nil the year

CORPORATE SOCIAL RESPONSIBILITY (CSR)

Your company is committed to improve quality of lives of people in the community its serves through long term stakeholder value creation, with special focus on skills development. The Company does not have to mandatorily constitute a Corporate Social Responsibility (CSR) Committee in accordance with Section 135 of the Companies Act, 2013. The company fully understands its role in society and is committed for sustainable & inclusive growth of people & the environment around its business.

BOARD AND DIRECTORS EVALUATION AND CRITERIA FOR EVALUATION

During the year, the Board has carried out an annual evaluation of its own performance & performance of the Directors.

Your Company has constituted Nomination and Remuneration Committee, which as per the provisions of Companies Act 2013 has defined the evaluation criteria, procedure and time schedule for the Performance Evaluation process for the Board, its Committees and Directors. The criteria for Board Evaluation inter alia include degree of fulfillment of key responsibilities, Board structure and composition, establishment and delineation of responsibilities to various Committees, effectiveness of Board processes, information and functioning.

Criteria for evaluation of individual Directors include aspects such as attendance and contribution at Board/ Committee Meetings and guidance/ support to the management outside Board/ Committee Meetings. In addition, the Chairman was also evaluated on key aspects of his role, including setting the strategic agenda of the Board, encouraging active engagement by all Board members and motivating and providing guidance to the Management. Criteria for evaluation of the Committees of the Board include degree of fulfillment of key responsibilities, adequacy of Committee composition and effectiveness of meetings. The procedure followed for the performance evaluation of the Board, Committees and Directors is detailed in the Directors' Report.

CRITERIA FOR DETERMINING QUALIFICATIONS, POSITIVE ATTRIBUTES AND INDEPENDENCE OF DIRECTORS:

The Nomination and Remuneration Committee has formulated the criteria for determining qualifications, positive attributes and independence of Directors in terms of provisions of Section 178(3) of the Companies Act 2013.

Independence:

In accordance with the above criteria, a Director will be considered as an 'Independent Director' if he/ she meet with the criteria for 'Independent Director' as laid down in the Act.

Qualifications:

A transparent Board nomination process is in place that encourages diversity of thought, experience, knowledge, perspective, age and gender. It is also ensured that the Board has an appropriate blend of functional and industry expertise. While recommending the appointment of a Director, the Nomination and Remuneration Committee considers the manner in which the function and domain expertise of the individual will contribute to the overall skill-domain mix of the Board.

Positive Attributes:

In addition to the duties as prescribed under the Act, the Directors on the Board of the Company are also expected to demonstrate high standards of ethical behavior, strong interpersonal and communication skills and soundness of judgment. Independent Directors are also expected to abide by the 'Code for Independent Directors' as outlined in Schedule IV to the Act.

REMUNERATION POLICY

The Company has adopted a Policy for remuneration of Directors, Key Managerial Personnel and other employees, which is aligned to its overall Human resource philosophy. The key factors considered in formulating the Policy are as under:

(a) the level and composition of remuneration is reasonable and sufficient to attract, retain and motivate Directors of the quality required to run the Company successfully;

(b) relationship of remuneration to performance is clear and meets appropriate performance benchmarks; and

(c) remuneration to Directors, key managerial personnel and senior management involves a balance between fixed and incentive pay reflecting short and long-term performance objectives appropriate to the working of the Company and its goals.

The key principles governing the Company's Remuneration Policy are as follows:

Remuneration for independent Directors and non-independent non-executive Directors:

* Independent Directors ('ID') and non-independent non-executive Directors ('NED') may be paid sitting fees for attending the Meetings of the Board and of Committees of which they may be members, and commission within regulatory limits, as recommended by the Nomination and Remuneration Committee ('NRC') and approved by the Board.

* Overall remuneration should be reasonable and sufficient to attract, retain and motivate Directors aligned to the requirements of the Company, taking into consideration the challenges faced by the Company and its future growth imperatives. Remuneration paid should be reflective of the size of the Company, complexity of the sector/ industry/ Company's operations and the Company's capacity to pay the remuneration and be consistent with recognized best practices.

* The aggregate commission payable to all the NEDs and IDs will be recommended by the NRC to the Board based on Company performance, profits, return to investors, shareholder value creation and any other significant qualitative parameters as may be decided by the Board. The NRC will recommend to the Board the quantum of commission for each Director based upon the outcome of the evaluation process which is driven by various factors including attendance and time spent in the Board and Committee Meetings, individual contributions at the meetings and contributions made by Directors other than in meetings.

* The remuneration payable to Directors shall be inclusive of any remuneration payable for services rendered in any other capacity, unless the services rendered are of a professional nature and the NRC is of the opinion that the Director possesses requisite qualification for the practice of the profession.

Policy on Remuneration for Managing Director ('MD') / Executive Directors ('ED') / Key Managerial Personnel ('KMP')/ rest of the Employees:

* The extent of overall remuneration should be sufficient to attract and retain talented and qualified individuals suitable for every role. Hence remuneration should be market competitive, driven by the role played by the individual, reflective of the size of the Company, complexity of the sector/ industry/ Company's operations and the Company's capacity to pay, consistent with recognized best practices and aligned to any regulatory requirements. Basic/ fixed salary is provided to all employees to ensure that there is a steady income in line with their skills and experience.

* In addition, the Company provides employees with certain perquisites, allowances and benefits to enable a certain level of lifestyle and to offer scope for savings. The Company also provides all employees with a social security net subject to limits, by covering medical expenses and hospitalization through re-imbursements or insurance cover and accidental death and dismemberment through personal accident insurance. The Company provides retirement benefits as applicable.

* In addition to the basic/ fixed salary, benefits, perquisites and allowances as provided above, the Company provides MD/ EDs such remuneration by way of commission, calculated with reference to the net profits of the Company in a particular financial year, as may be determined by the Board, subject to the overall ceilings stipulated in Section 197 of the Companies Act, 2013. The specific amount payable to the MD/ EDs would be based on performance as evaluated by the NRC and approved by the Board.

* The Company provides the rest of the employees a performance linked bonus. The performance linked bonus would be driven by the outcome of the performance appraisal process and the performance of the Company.

Presently, Mrs. Sarayu Somaiya (Director) & Mr. Hemang Joshi (KMP), of the Company draws remuneration from the subsidiary, whereas no remuneration from the holding company is paid.

DIRECTORS' RESPONSIBILITY STATEMENT

The directors report that:

i) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures.

ii) The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss account of the company for that period.

iii) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

iv) The Directors have prepared the annual accounts on a going concern basis.

v) The Directors, had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively and

vi) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

All the Independent Directors have given declarations that they meet the criteria of independence as laid down under Section 149(6) of the Act. In the opinion of the Board, they fulfill the conditions of independence as specified in the Act and the Rules made there under and are independent of the management.

SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

Your company has one subsidiary namely 'Netesoft India Limited'. Currently Netesoft India Limited is carrying its activities in offering services for creative graphic designs & also in trading and investment in financial market instruments.

CONSOLIDATED FINANCIAL STATEMENT

In accordance with the Companies Act, 2013 ("the Act") and Accounting Standard (AS) - 21 on Consolidated Financial Statements read with AS - 23 on Accounting for Investments in Associates and AS - 27 on Financial Reporting of Interests in Joint Ventures, your company's Consolidated Financial Statements duly audited by the Statutory Auditors, are presented in this Annual Report along with Form AOC-1.

POLICY ON PREVENTION, PROHIBITION AND REDRESSAL OF SEXUAL HARASSMENT AT WORKPLACE

The Company has zero tolerance for sexual harassment and has adopted a Policy on Prevention, Prohibition and Redressal of Sexual Harassment at the Workplace, in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules there under. The Company has not received any complaint of sexual harassment during the financial year 2014-15.

VIGIL MECHANISM/ WHISTLE BLOWER POLICY

The Company has adopted a Whistle Blower Policy, to provide a formal mechanism to the Directors and employees to report their concerns about unethical behavior, actual or suspected fraud or violation of the Company's Code of Conduct or ethics policy. The Policy provides for adequate safeguards against victimization of employees who avail of the mechanism. It is affirmed that no personnel of the Company has been denied access to the Audit Committee.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

No significant material orders have been passed by the Regulators or Courts or Tribunals which would impact the going concern status of the Company and its future operations.

AUDITORS

(1) Statutory Auditors:

M/s. D N Kanabar & Co., Chartered Accountants, Mumbai, are the statutory auditors of the Company and hold office till the conclusion of the forthcoming Annual General Meeting (AGM). They have furnished a certificate, confirming that if re-appointed, the re-appointment will be in accordance with Section 139 read with Section 141 of the Act. Pursuant to the provisions of the Act and the Rules made there under, it is proposed to appoint them as the statutory auditors of the Company from the conclusion of the forthcoming AGM till the conclusion of the 34th AGM, subject to ratification of their appointment at the AGM to be held in 2016. Members are requested to consider the re-appointment of M/s. D N Kanabar & Co., Chartered Accountants, Mumbai and authorize the Board of Directors to fix their remuneration.

(2) Secretarial Auditors:

Pursuant to the provisions of Section 204 of the Act and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors of the Company had appointed M/s. Hardik Savla & Co, a Company Secretary in Practice to undertake the Secretarial Audit of the Company for the year ended 31st March, 2015. The Secretarial Audit Report is annexed to this report.

The Auditors' Report and the Secretarial Audit Report for the financial year ended 31st March, 2015 do not contain any qualification, reservation, adverse remark or disclaimer.

LISTING ON STOCK EXCHANGES

The Equity Shares of your Company are listed only with BSE Limited. We confirm that, your Company has paid the listing fees for the financial year 2015-2016. Further to inform you that equity shares of your Company were suspended from trading w.e.f. March 4, 2015.

Your Company has filed detailed representations with BSE Limited urging for revocation of suspension from trading of equity shares. Members of the Board of Directors of your Company have represented before the Disciplinary Committee of BSE Limited on April 21, 2015 and have made detailed submissions and have made out a prima facie case for revocation of suspension from trading of equity shares of the Company. At the venue of AGM, a file containing all submissions made by the Company with the BSE shall be kept open for inspection by the members of the Company.

CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of corporate governance and adhere to the corporate governance requirements set out by SEBI. The Clause 49 of the Listing Agreement does not apply to the Company in Accordance with SEBI circular CIR/CFD/POLICYCELL/7/2014 dated 15-09-2014. Therefore no separate section on Management's Discussion and Analysis, Corporate governance is annexed.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENT UNDER SECTION 186

During the year, the Company has not given any loan or guarantee, or provided security, or has made any investment which would be required to be reported under section 186 of the companies Act 2013. The closing balances of investments which would be covered under Section 186 of the Companies Act, 2013, are disclosed in the Schedule of Non-Current Investments in the Financial Statements. The Company has not granted any Loans and Guarantees.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES REFERRED TO IN SUB-SECTION (1) OF SECTION 188 OF THE COMPANIES ACT, 2013

The contracts or arrangements entered into by the Company with Related Parties have been done at arm's length and are in the ordinary course of business and are immaterial in nature. Hence, no particulars are being provided in Form AOC-2 as mandated pursuant to the provisions of Section 134 of the Companies Act, 2013, read with Rule 8 (2) of the Companies (Accounts) Rules, 2014.

THE EXTRACT OF ANNUAL RETURN

Extracts of Annual return in form MGT-9 as per Section 134 (3) (a) of the Companies Act, 2013 read with Rule 8 of Companies Act (Accounts) Rules 2014 and Rule 12 of Companies (Management & Administration) Rules, 2014 is annexed hereto and forms part of this report.

MANAGERIAL REMUNERATION / PARTICULARS OF EMPLOYEES

Your company has not paid any managerial remuneration during the period under review, therefore no Disclosures in the Board Report as required under Rule 5 of Companies (Appointment & Remuneration) Rules, 2014 is provided and further your Company also has not employed any person at a remuneration in excess of the limit set out in the said Rules.

DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP) :

At the Annual General Meeting of the Company held on September 27, 2014, the Members had approved the appointment of Mr. Ajay Shanghavi as Independent Director for a term of five years as per the provisions of Companies Act 2013, whereas Mrs. Sarayu Somaiya was reappointed as a director liable to retire by rotation. Other than the above it is be noted that no Director or Key Managerial Person has been appointed or has retired or resigned during the year.

Mr. Nishant Upadhyay was appointed as Additional Director (Independent) on April 1, 2015. Further Board has also designated Mr. Hemang Joshi as CFO, Mr. Basanta Behera as CEO and appointed Mr. Nilesh Amrutkar as Company Secretary of the company as per the requirements of section 203 of the companies Act 2013 on April 1, 2015.

In accordance with the provisions of Section 152 of the Act and in terms of Articles of Association of the Company, Mr. Rasik Somaiya retires and is eligible for re-appointment.

BOARD AND COMMITTEE MEETINGS

Five Board Meetings were convened and held during the year i.e. on May 30, 2015, August 14, 2015, August 22, 2015, November 14, 2015 and February 13, 2015. The Board has constituted an Audit Committee as well as Nomination & Remuneration Committee with Mr. Ajay Shanghavi as Chairman and Mr. Rasik Somaiya, Mr. Nishant Upadhyay as Members. There have not been any instances when recommendations of the Audit Committee were not accepted by the Board.

The intervening gap between the Meetings was within the period prescribed under the Act.

DETAILS OF DEPOSITS WHICH ARE NOT IN COMPLIANCE WITH THE REQUIREMENTS OF CHAPTER V OF THE COMPANIES ACT, 2013:

Your Company has not accepted any fixed deposits covered under chapter V of the Companies Act, 2013 and, as such, no amount of principal or interest was outstanding on the date of Balance Sheet.

INTERNAL CONTROLS SYSTEMS AND ADEQUACY

The Company's internal audit systems are geared towards ensuring adequate internal controls commensurate with the size and needs of the business, with the objective of efficient conduct of operations through adherence to the Company's policies, identifying areas of improvement, evaluating the reliability of Financial Statements, ensuring compliances with applicable laws and regulations and safeguarding of assets from unauthorized use.

The Audit Committee along with Management overseas results of the internal audit and reviews implementation on a regular basis.

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation for the whole hearted and sincere co- operation the Company has received from its bankers and various Government agencies. Your Directors also wish to thank all the employees for their co-operation.

For and on behalf of the Board of Directors FOR UNITED INTERACTIVE LIMITED

Date: May 30, 2015 Place: Mumbai

Sarayu Somaiya Rasik Somaiya Director Director


Mar 31, 2014

The Members

United Interactive Limited

The Board of Directors have pleasure in presenting the 31st ANNUAL REPORT AND AUDITED ACCOUNTS of your Company for the year ended on 31st March 2014.

FINANCIAL HIGHLIGHTS: Standalone Basis (Rs. in Lakhs)

Particulars 2013-14 2012-13

Total Income 9.77 11.72

Total Expenditure 8.45 9.12

Profit Before Tax 1.32 2.60

Tax Nil Nil

Profit After Tax 1.32 2.60

REVIEW OF OPERATIONS

During the current year, your Company has booked total income of Rs 9.77 Lakhs and PAT of Rs 1.32 Lakhs on standalone basis. The source of income of Rs.9.77 Lakhs is on account of dividend paid by its subsidiary company – Netesoft India Limited.

Your Company has its strategic subsidiary as Netesoft India Limited. The performance of Netesoft for the financial year 2013-2014 is as follows:

The total income of the Netesoft for the year ended March 31, 2014 stood at Rs 464.56 Lakhs against Rs 417.17 lakhs for the last year. The Netesoft has made a profit after tax of Rs 192.77 Lakhs during year ended March 31, 2014 as compared to a profit after tax of Rs 96.20 Lakhs during the previous year.

SUBSIDIARY COMPANY

About Netesoft India Limited:

Netesoft India Limited is a creative graphic design studio offering passionate and creative visual presentation metaphors using a blend of strategy, design and technology perspectives for the design of logos, corporate stationery, corporate brochures, marketing and promotional literature and a wide range of custom print and web graphics.

Netesoft serves a broad and diversified global client base in a variety of segments, including capital and financial services, professional services, advertising, entertainment, media, health and medicine, government, internet, sports, travel, aerospace, corporates, manufacturers, software, technology, institutes, real estate, communities, etc.

Netesoft is experiencing business challenges due to subdued business environment in US and other challenges being faced in ITES market.

As at March 31, 2014, Netesoft India Limited has a total paid up capital of Rs1,53,21,000/- divided into 15,32,100 fully paid up equity shares of Rs 10/- each.

Netesoft operates from its office situated at 401, Bldg-2, Sector-1, Millennium Business Park, Mahape, Navi Mumbai – 400 710.

DIVIDEND

In view of the inadequate profits, your Directors do not recommend payment of Dividend for the current financial year.

DIRECTORS

Smt Sarayu Somaiya, Director of the company retires by rotation at the ensuing Annual General Meeting and, being eligible, offers herself for re-appointment.

Shri. Ajay Shanghavi is an Independent Director on the Board of Directors of the Company and as per the provisions of Companies Act, 2013, it is proposed to appoint him as Independent Director for a period of five years.

LISTING

The Equity Shares of your Company are listed only with BSE Limited. We confirm that, your Company has paid the listing fees for the financial year 2014-2015.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217 (2AA) of the Companies Act, 1956, the Directors, based on the representations received from the operating management, confirm that: -

I. in the preparation of the annual accounts for the Financial Year ended 31st March 2014, the applicable accounting standards had been followed along with the proper explanation relating to material departures, if any;

II. the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the Profit & Loss of the Company for the year ended under review;

III. the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing & detecting fraud and other irregularities; and

IV. The Directors have prepared the Annual accounts on a going concern basis.

CORPORATE GOVERNANCE

Clause 49 of the Listing Agreement does not apply to the Company in terms of provisions of circular no. SEBI/CFD/DIL/2004/12/10 dated October 29, 2004.

AUDITORS

The Company''s Auditors, M/s. D N Kanabar & Co., Chartered Accountants, Mumbai retire as Statutory Auditors of your Company at the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment. They have intimated their willingness to accept reappointment and have further furnished necessary Certificate in terms of the Companies Act, 2013. Board of Directors recommend their appointment as Statutory Auditor of the Company.

NOTE ON ACCOUNTS OF SUBSIDIARY COMPANY

As per Section 212 of the Companies Act, 1956, we are required to attach the Directors'' Report, Balance Sheet and Profit and Loss account of our subsidiaries. Ministry of Corporate Affairs vide its General Circular no. 02/2011 dated February 8, 2011, exempted Companies from attaching the Financial Statements of Subsidiary Companies. However, as per said circular the Companies are required to provide only the consolidated financial statement in the annual report, accordingly, the Annual Report contains the consolidated financial statements. Further the Ministry of Corporate Affairs vide General Circular 08/2014 dated April 4, 2014 has clarified that the financial statements, auditors report and Boards report in respect of financial year that commenced earlier than April 1, 2014 shall be governed by the relevant provisions/ Schedules/Rules of the Companies Act, 1956. The Audited Annual Accounts and related information of subsidiaries, wherever applicable, will be made available to shareholders upon request and will also be available for inspection during normal business hours at the registered office of the company. A Statement of Subsidiaries under Sec 212 of the Companies Act 1956 is attached to the report

CONSOLIDATED FINANCIAL STATEMENTS

The Audited Consolidated Financial Statements based on the Financial Statements received from subsidiary companies, as approved by their respective board of directors, have been prepared in accordance with the Accounting Standard (AS-21) on Consolidated Financial Statement notified under Section 133 of the Companies Act, 2013 read with the rules made thereunder as applicable. The Audited Consolidated Financial Statements forms part of this Annual Report.

SECRETARIAL COMPLIANCE CERTIFICATE

The Compliance Certificate obtained from a Company Secretary in whole time practise in accordance with the provisions of section 383A of the Companies Act, 1956 and the rules made there under is annexed to this Directors Report.

MCA – GREEN INITIATIVE

The Ministry of Corporate Affairs has taken a green initiative through its ciruclar no: 17/2011 and 18/2011 allowing paperless compliances by companies through electronic mode. Companies are now permitted to send various notices/documents to its shareholders through electronic mode to the registered email addresses of shareholders. Thus we sent annual report for the year 2012-2013 electronically to our shareholders whose email address was registered with the Company. We intend to send the current Annual Report of 2013-2014 to our shareholders through electronic mode.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO

The Information in accordance with the provisions of Section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption is given in the Annexure forming part of this Report. As regards the information in respect of foreign exchange earnings and outgo, the same has been given in the Notes forming part of the accounts for the period ended 31st March 2014.

PARTICULARS OF THE EMPLOYEES

During the year, no employee of the Company was in receipt of remuneration exceeding the sum prescribed under Section 217 (2A) of the Companies Act, 1956. Hence, furnishing of particulars under the Companies (Particulars of employees) Rules, 1975 does not arise.

ACKNOWLEDGEMENTS

The Board of Directors wishes to thank the Central Government, State Government, BSE Limited (BSE) for their cooperation in various spheres of your Company''s functions. The Board of Directors express its gratitude for the cooperation extended by the Bankers for their support.

Your Directors thanks all its shareholders, clients and investors for their support during the year and looks forward to their continued support in the years to come.

By Order of the Board of Directors For United Interactive Limited

Place: Mumbai Date: May 30, 2014 Sarayu Somaiya Rasik Somaiya Director Director


Mar 31, 2013

To, The Members

The Board of Directors have pleasure in presenting the 30th ANNUAL REPORT AND AUDITED ACCOUNTS of your Company for the year ended on 31st March 2013.

FINANCIAL HIGHLIGHTS: Standalone Basis (Rs.. in Lakhs)

Particulars 2012-13 2011-12

Total Income 11.72 11.72

Total Expenditure 9.12 8.59

Profit Before Tax 2.60 3.13

Tax Nil 0.14

Profit After Tax 2.60 2.99



REVIEW OF OPERATIONS

During the current year, your Company has booked total income of Rs. 11.72 Lakhs and PAT of Rs. 2.60 Lakhs. The source of income of Rs.. 11.72 Lakhs is on account of dividend paid by its subsidiary company – Netesoft India Limited.

Your Company has its strategic subsidiary as Netesoft India Limited. The performance of Netesoft for the financial year 2012-2013 is as follows:

The total income of the Netesoft for the year ended March 31, 2013 stood at Rs. 417.17 Lakhs against Rs. 544.33 lakhs for the last year. The Netesoft has made a profit after tax of Rs. 96.20 Lakhs during year ended March 31, 2013 as compared to a profit after tax of Rs. 41.71 Lakhs during the previous year.

SUBSIDIARY COMPANY

About Netesoft India Limited:

Netesoft India Limited is a creative graphic design studio offering passionate and creative visual presentation metaphors using a blend of strategy, design and technology perspectives for the design of logos, corporate stationery, corporate brochures, marketing and promotional literature and a wide range of custom print and web graphics.

Netesoft serves a broad and diversified global client base in a variety of segments, including capital and financial services, professional services, advertising, entertainment, media, health and medicine, government, internet, sports, travel, aerospace, corporates, manufacturers, software, technology, institutes, real estate, communities, etc.

As at March 31, 2013, Netesoft India Limited has a total paid up capital of Rs. 1,53,21,000/- divided into 15,32,100 fully paid up equity shares of Rs. 10/- each.

Netesoft operates from its office situated at 401, Bldg-2, Sector-1, Millennium Business Park, Mahape, Navi Mumbai – 400 710.

DIVIDEND

In view of the inadequate profits, your Directors do not recommend payment of Dividend for the current financial year.

DIRECTORS

Shri. Rasiklal Somaiya, Director of the company retires by rotation at the ensuing Annual General Meeting and, being eligible, offers himself for re-appointment.

LISTING

The Equity Shares of your Company are listed only with BSE Limited. We confirm that, your Company has paid the listing fees for the financial year 2013-2014.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217 (2AA) of the Companies Act, 1956, the Directors, based on the representations received from the operating management, confirm that: -

I. in the preparation of the annual accounts for the Financial Year ended 31st March 2013, the applicable accounting standards had been followed along with the proper explanation relating to material departures, if any;

II. the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the Profit & Loss of the Company for the year ended under review;

III. the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing & detecting fraud and other irregularities; and

IV. The Directors have prepared the Annual accounts on a going concern basis.

CORPORATE GOVERNANCE

Clause 49 of the Listing Agreement does not apply to the Company in terms of provisions of circular no. SEBI/CFD/DIL/2004/12/10 dated October 29, 2004.

AUDITORS

The Company''s Auditors, M/s. D N Kanabar & Co., Chartered Accountants, Mumbai retire as Statutory Auditors of your Company at the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment. They have intimated their willingness to accept reappointment and have further furnished necessary Certificate in terms of Section 224 (1B) of the Companies Act, 1956. Board of Directors recommend their appointment as Statutory Auditor of the Company.

NOTE ON ACCOUNTS OF SUBSIDIARY COMPANY

The Ministry of Corporate Affairs, vide its circular no: 2/2011 dated February 8, 2011, has granted general exemption under section 212(8) of the Companies Act, 1956 for not attaching the annual report of the subsidiary companies subject to certain conditions being fulfilled by the Company. Your Company has complied with the said conditions and therefore, financial statements pertaining to subsidiary Netesoft India Limited have not been attached with the Balance Sheet of the Company. The Annual Report of Netesoft India Limited is available for inspection at the registered office of your Company.

CONSOLIDATED FINANCIAL STATEMENTS

The Audited Consolidated Financial Statements based on the Financial Statements received from subsidiary companies, as approved by their respective board of directors, have been prepared in accordance with the Accounting Standard (AS-21) on Consolidated Financial Statement notified under Section 211(3C) of the Companies Act, 1956 read with the Companies (Accounting Standards) Rules, 2006, as applicable. The Audited Consolidated Financial Statements forms part of this Annual Report.

SECRETARIAL COMPLIANCE CERTIFICATE

The Compliance Certificate obtained from a Company Secretary in whole time practise in accordance with the provisions of section 383A of the Companies Act, 1956 and the rules made there under is annexed to this Directors Report.

MCA – GREEN INITIATIVE

The Ministry of Corporate Affairs has taken a green initiative through its ciruclar no: 17/2011 and 18/2011 allowing paperless compliances by companies through electronic mode. Companies are now permitted to send various notices/documents to its shareholders through electronic mode to the registered email addresses of shareholders. Thus we sent annual report for the year 2011-2012 electronically to our shareholders whose email address was registered with the Company. We intend to send the current Annual Report of 2012-2013 to our shareholders through electronic mode.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO

The Information in accordance with the provisions of Section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption is given in the Annexure forming part of this Report. As regards the information in respect of foreign exchange earnings and outgo, the same has been given in the Notes forming part of the accounts for the period ended 31st March 2013.

PARTICULARS OF THE EMPLOYEES

During the year, no employee of the Company was in receipt of remuneration exceeding the sum prescribed under Section 217 (2A) of the Companies Act, 1956. Hence, furnishing of particulars under the Companies (Particulars of employees) Rules, 1975 does not arise.

ACKNOWLEDGEMENTS

The Board of Directors wishes to thank the Central Government, State Government, BSE Limited (BSE) for their cooperation in various spheres of your Company''s functions. The Board of Directors express its gratitude for the cooperation extended by the Bankers for their support.

Your Directors thanks all its shareholders, clients and investors for their support during the year and looks forward to their continued support in the years to come.



By Order of the Board of Directors

For United Interactive Limited

Place: Mumbai

Date: May 30, 2013 Sarayu Somaiya Rasik Somaiya

Director Director


Mar 31, 2012

The Board of Directors have pleasure in presenting the 29th ANNUAL REPORT AND AUDITED ACCOUNTS of the Company for the year ended on 31st March 2012.

FINANCIAL HIGHLIGHTS: Standalone Basis (Rs. in Lacs)

2011-12 2010-11 Particulars

Total Income 11.72 11.88

Total Expenditure 8.59 6.48

Profit Before Tax 3.13 5.40

Profit After Tax 2.98 5.40

REVIEW OF OPERATIONS

During the current year, your Company has booked total income of Rs. 11.72 Lacs and PAT of Rs. 2.98 Lacs.

DIVIDEND

In view of the lesser profits, your Directors do not recommend payment of Dividend for the current financial year.

SUBSIDIARY COMPANY

About Netesoft India Limited:

Netesoft India Limited ("Netesoft") is a creative graphic design studio offering passionate and creative visual presentation metaphors using a blend of strategy, design and technology perspectives for the design of logos, corporate stationery, corporate brochures, marketing and promotional literature and a wide range of custom print and web graphics.

Netesoft serves a broad and diversified global clients base in a variety of segments, including capital and financial services, professional services, advertising, entertainment, media, health and medicine, government, internet, sports, travel, aerospace, corporates, manufacturers, software, technology, institutes, real estate, etc.

As at March 31, 2012, Netesoft India Limited has a total paid up capital of Rs. 1,53,21,000/- divided into 15,32,100 fully paid up equity shares of Rs. 10/- each.

Netesoft operates from its office situated at 401 Bldg-2, Sector-1, Millennium Business Park, Mahape, Navi Mumbai - 400 710.

Annual Report of Netesoft India Limited is annexed to this Annual Report.

DIRECTORS

Smt. Sarayu Somaiya and Shri Ajay P Shanghavi, Directors of the company retires by rotation at the ensuing Annual General Meeting and, being eligible, offers themselves for re-appointment.

LISTING

The Equity Shares of the Company are listed only with Bombay Stock Exchange Limited. We confirm that, your Company has paid the listing fees for the financial year 2012-2013.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217 (2AA) of the Companies Act, 1956, the Directors, based on the representations received from the operating management, confirm that: -

I. in the preparation of the annual accounts for the Financial Year ended 31st March 2012, the applicable accounting standards have been followed along with the proper explanation relating to material departures, if any;

II. the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the Profit & Loss of the Company for the year ended under review;

III. the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing & detecting fraud and other irregularities; and

IV. The Directors have prepared the Annual Accounts on a going concern basis.

CORPORATE GOVERNANCE

Clause 49 of the Listing Agreement does not apply to the Company in terms of provisions of circular no. SEBI/CFD/DIL/2004/12/10 dated October 29, 2004.

AUDITORS

The Company's Auditors, M/s. D N Kanabar & Co., Chartered Accountants, Mumbai retire as Statutory Auditors of your Company at the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment. They have intimated their willingness to accept reappointment and have further furnished necessary Certificate in terms of Section 224 (1B) of the Companies Act, 1956. Board of Directors recommend their appointment as Statutory Auditor of the Company.

CONSOLIDATED FINANCIAL STATEMENTS

The Audited Consolidated Financial Statements based on the Financial Statements received from subsidiary companies, as approved by their respective board of directors, have been prepared in accordance with the Accounting Standard (AS-21) on Consolidated Financial Statement notified under Section 211(3C) of the Companies Act, 1956 read with the Companies (Accounting Standards) Rules, 2006, as applicable.

SEGMENTAL REPORTING

Your Company operates in single segment, and therefore Segmental Report as required under Accounting Standard - 17 is not applicable.

SECRETARIAL COMPLIANCE CERTIFICATE

The Compliance Certificate obtained from a Practising Company Secretary in whole time practise in accordance with the provisions of section 383A of the Companies Act, 1956 and the rules made there under is annexed to this Directors Report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO:

The Information in accordance with the provisions of Section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption is given in the Annexure forming part of this Report. As regards the information in respect of foreign exchange earnings and outgo, the same has been given in the Notes forming part of the accounts for the period ended 31st March 2012.

PARTICULARS OF THE EMPLOYEES:

During the year, no employee of the Company was in receipt of remuneration exceeding the sum prescribed under Section 217(2A) of the Companies Act, 1956. Hence, furnishing of particulars under the Companies (Particulars of employees) Rules, 1975 does not arise.

ACKNOWLEDGEMENTS:

The Board of Directors wishes to thank the Central Government, State Government, Bombay Stock Exchange Limited (BSE) for their cooperation in various spheres of your Company's functions. The Board of Directors express its gratitude for the cooperation extended by the Bankers i.e. HDFC Bank for their support.

Your Directors thanks all its shareholders, clients and investors for their support during the year and looks forward to their continued support in the years to come.

By Order of the Board of Directors

Place: Mumbai

Date: August 29, 2012 Sarayu Somaiya Rasik Somaiya

Director Director


Mar 31, 2010

The Board of Directors have pleasure in presenting the 27th ANNUAL REPORT AND AUDITED ACCOUNTS of the Company for the year ended on 31st March 2010

FINANCIAL HIGHLIGHTS: (Rs. in Lacs)

2009-10 2008-09

Total Sales 81.88 167.76

Total Expenditure 117.34 151.53

Profit Before Tax (35.46) 16.23

Exceptional Item (Loss on Sale of Asset) (43.73) Nil

Profit Before Tax after Exception Item (79.19) 16.23

DIVIDEND

In view of the losses incurred during the period, your Directors do not recommend payment of Dividend.

REVIEW OF OPERATIONS

During the period under review, your Company has transferred the Neem Business, because of which, Company has suffered one time loss of Rs.43.73 Lacs. Company is pursuing IT & ITES opportunities, as the management foresees more opportunities in the said field.

For the information of the shareholders of the Company, your Company has acquired 51% controlling stake (7,81,400 shares) in Netesoft India Limited.

About Netesoft India Limited:

Netesoft India Limited is a creative graphic design studio offering passionate and creative visual presentation metaphors using a blend of strategy, design and technology perspectives for the design of logos, corporate stationery, corporate brochures, marketing and promotional literature and a wide range of custom print and web graphics.

Netesoft serves a broad and diversified global client base in a variety of segments, including capital and financial services, professional services, advertising, entertainment, media, health and medicine, government, internet, sports, travel, aerospace, corporates, manufacturers, software, technology, institutes, real estate, communities, etc.

Netesoft India Limited has a total paid up capital of Rs. 15,321,000/- divided into 15,32,100 fully paid up equity shares of Rs.10/- each.

Netesoft operates from its office situated at 401/402/405/406 Bldg-2, Sector-1, 309/310/315/316 Bldg.-1, Sector - 2, Millennium Business Park, Mahape, Navi Mumbai - 400 710. Netesoft has more than hundred dedicated and experienced employees.

CHANGE OF NAME

During the year company changed its name from Neemtek Organic Products Limited to United Interactive Limited. Company has received the new Certificate of Incorporation consequent to change of Name dated October 20, 2009. Your Company is in process of filing application with Bombay Stock Exchange Limited for change of Ticker Name. As on the date of this Report, the Ticker Name appears as "NEEMTEK".

AMENDMENT TO MAIN OBJECTS CLAUSE

Pursuant to resolution passed by the members of the Company through Postal Ballot results of which were declared on June 29, 2009, Company has changed its Main Objects clause in order to provide for activities relating to IT & ITES activities. The new Objects Clause has been registered by the Office of Registrar of Companies, Mumbai vide Certificate dated October 14, 2009.

DIRECTORS

The Board of Directors appointed Shri. Rasiklal Somaiya, Smt. Sarayu Somaiya as Additional Directors at its board meeting held on January 18, 2010. They hold office until the ensuing Annual General Meeting.

Mr. Ajay Shanghavi, Director of the company retires by rotation at the ensuing Annual General Meeting and, being eligible, offers himself for re-appointment.

LISTING

The Equity Shares of the Company are listed only with Bombay Stock Exchange Limited. We confirm that, your Company has paid the listing fees for the financial year 2010-2011.

TRANSFER OF UNDERTAKING

Pursuant to resolution passed by the members of the Company through Postal Ballot results of which were declared on June 29, 2009, the Company had transferred the Neem undertaking to Neo Neem Extractions Private Limited.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 217 (2AA) of the Companies Act, 1956, the Directors, based on the representations received from the operating management, confirm that: -

I. in the preparation of the annual accounts for the Financial Year ended 31st March 2010, the applicable accounting standards had been followed along with the proper explanation relating to material departures, if any;

II. the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the Profit & Loss of the Company for the year ended under review;

III. the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing & detecting fraud and other irregularities; and

IV. The Directors have prepared the Annual accounts on a going concern basis.

CORPORATE GOVERNANCE

Clause 49 of the Listing Agreement does not apply to the Company in terms of provisions of circular no. SEBI/CFD/DIL/2004/12/10 dated October 29, 2004.

AUDITORS

During the year ended March 31, 2010, Company had conducted an Extra Ordinary General Meeting of members its members on February 15, 2010 for appointment of M/s D N Kanabar & Co., Chartered Accountants, Mumbai as Statutory Auditors of the Company.

The Companys Auditors, M/s. D N Kanabar & Co., Chartered Accountants, Mumbai retire as Statutory Auditors of your Company at the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment. They have indicated their willingness to accept reappointment and have further furnished necessary Certificate in terms of Section 224 (1B) of the Companies Act, 1956. Board of Directors recommend their appointment as Statutory Auditor of the Company.

AUDITORS REPORT

The observations made by the Auditors in their Report referring to the Notes forming part of the Accounts are self-explanatory and therefore, do not require any further comments under Section 217(3) of the Companies Act,1956.

SECRETARIAL COMPLIANCE CERTIFICATE

The Compliance Certificate obtained from a Practising Company Secretary in whole time practise in accordance with the provisions of section 383A of the Companies Act, 1956 and the rules made there under is annexed to this Annual Report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO:

The Information in accordance with the provisions of Section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 regarding conservation of energy, technology absorption is given in the Annexure forming part of this Report. As regards the information in respect of foreign exchange earnings and outgo, the same has been given in the Notes forming part of the accounts for the period ended 31st March 2010.

INDUSTRIAL / HUMAN RELATIONS:

During the year employee relations continued to be cordial and harmonious at all levels and in all divisions of the Company. The Company has consistently tried to improve its HR policies and processes so as to acquire, retain & nurture the best of the available talent in the Industry.

PARTICULARS OF THE EMPLOYEES:

During the year, no employee of the Company was in receipt of remuneration exceeding the sum prescribed under Section 217 (2A) of the Companies Act, 1956. Hence, furnishing of particulars under the Companies (Particulars of employees) Rules, 1975 does not arise.

ACKNOWLEDGEMENTS:

The Board of Directors wishes to thank the Central Government, State Government, Bombay Stock Exchange Limited (BSE) for their cooperation in various spheres of your Companys functions. The Board of Directors express its gratitude for the cooperation extended by the Bankers i.e. HDFC Bank for their support.

Your Directors thanks all its shareholders, clients and investors for their support during the year and looks forward to their continued support in the years to come.

By Order of the Board of Directors For United Interactive Limited

Place: Mumbai

Date: August 12, 2010 Sarayu Somaiya Rasik Somaiya

Director Director




Mar 31, 2009

The Directors take pleasured presenting the 26th Annual Report of the Company together with the audited statements for the year ended March 2009, along with the Report of Auditors thereon.

(Rs. Lacs)

FINANCIAL RESULTS 2008-09 2007-08

Total Income 167.76 128.00

Total Expenditure 151.53 125.52

PROFIT BEFORE TAX (PBT) 16.23 2.48

The Directors take pleasure that Company has improved its performance over the previous year and has achieved better profit.

DIVIDEND

Nevertheless, in view of accumulated losses, your Directors are not in a position to recommend any dividend.

REVIEW OF OPERATIONS:

During the year under review, your Company was able to improve on the yield parameters which generated good results. The products of your Company have found universal acceptance for their quality and efficacy. Now with the change in the line of business, efforts would continue better our standards set for ourselves in the changed scenario.

MANAGEMENT ANALYSIS:

Your Company, has decided to exit the neem business and enter the information technology business for which the necessary approvals have been obtained from the members by postal ballot. The response of members to the postal ballot was very good and the Directors place on record their appreciation for participation of members. The coming years would witness growth in the information technology business and other businesses that the Company envisages to embark upon. The Company also proposes to go for a change of name in line with the changed business activity and seeks shareholder approval for the same.

DIRECTORS:

Mr Ajay P. Shanghavi, Director of your company retires by rotation and being eligible, has offered himself for reappointment.

DEMATERIALISATION OF SHARES:

The Company has admitted its Equity shares in the Depository System of Central Depository Services (India) Ltd (CSDL) & National Securities Depository Services Ltd(NSDL). The ISI number allotted to the Company is INE706D01018.

REGISTRAR & SHARE TRANSFER AGENTS:

M/s Mondkar Computers Pvt Ltd., continue to be the Registrar for providing share transfer services as well as demat connectivity with NSDL and CSDL

AUDITORS:

The auditors of your company viz CNGSN & Associates resigned due to personal reasons and this having created a casual vacancy, your Directors have appointed Shri N. Subramanian, Chartered Accountant, No.45, Dr. Ranga Road, Chenna 600 004 as auditors to continues the function.

PARTICULARS OF EMPLOYEES:

During the year under review, the Company has not employed any person who was in receipt of remuneration exceeding the sum prescribed under Section 217(2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975.

DEPOSITS:

The Company has not accepted any deposit from public. There were no unclaimed or unpaid deposits as on March 31, 2009.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the requirement of Section 217 (2AA) of the Companies Act, 1956, with respect to Directors Responsibilities Statement, it is hereby confirmed that:

i. That in the preparation of Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any.

ii. That the Directors have selected such accounting policies and applied them consistently and made judgement and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the Financial Year ended March 2009 and of the Profit and Loss of the Company for the year ending on that date.

iii. The Directors have taken proper and sufficient care of the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

iv. That the Directors have prepared the Annual Accounts on going concern basis.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGOING:

The information pursuant to Sec. 217 (1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 are annexed.

ACKNOWLEDGEMENT:

The Board of Directors thank the Companys Promoters, Auditors, stake holders, Bankers and employees for their continuous support.

Mumbai For and on behalf of the Board of Directors

29.08.2009

Sd/-

Ajay P.Shanghavi DIRECTOR

 
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